The government has formally sought about a 25 per cent increase in the base national electricity tariff to become effective from July 1, 2025, to secure a revenue requirement of about Rs4 trillion in FY25 for power companies. The National Electric Power Regulatory Authority (Nepra) has called a public hearing on May 23 to examine a petition filed by the Central Power Purchasing Agency (CPPA) of
The remarkable rally continued at the Pakistan Stock Exchange (PSX) on Tuesday as bulls powered the KSE-100 index to a new record peak above 74,500 points in what analysts said was deep investor interest ahead of budget announcement amid hopes of a larger IMF loan deal. Despite initially trading at the intra-day low of 73,977 points, the index swiftly gathered steam. Citibank’s projection of a
Pakistan’s central bank has projected that the country’s economic growth would remain moderate, sticking to its original forecast of 2-3% growth in the ongoing fiscal year 2023-24. It says that achieving a higher growth trajectory over the medium to long run depends on reforms addressing lingering structural issues. In its report on the ‘State of Pakistan’s Economy for the First Half of Fiscal
The Pakistani rupee on Tuesday remained largely stable, ticking up Rs0.02 to close at Rs278.18 against the US dollar in the inter-bank market amid commencement of talks with the International Monetary Fund (IMF) for a potential new loan programme of $8 billion. According to the State Bank of Pakistan’s (SBP) data, the local currency had closed at Rs278.20 against the greenback on Monday. The
US President Joe Biden on Tuesday unveiled a bundle of steep tariff increases on an array of Chinese imports including electric vehicle (EV) batteries, computer chips and medical products, risking an election-year standoff with Beijing in a bid to woo voters who give his economic policies low marks. China immediately vowed retaliation. Its commerce ministry said Beijing was opposed to the US ta